Emerging Markets and Industry Verticals Boost Returnable Packaging Market to US$ 248 Billion by 2034

Expect returnable packaging to surge 6.7% annually, hitting $248 billion by 2034! Investment, education, and material science fuel this eco-friendly, cost-saving market. Learn more about stakeholder opportunities in our FMI report.

NEWARK, Del., Feb. 8, 2024 /PRNewswire/ -- The global returnable packaging market is anticipated to reach a valuation of US$ 129.7 billion in 2024, driven by emerging markets and industry verticals. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.7% between 2024 and 2034, and reaching a total valuation of approximately US$ 248.0 billion by 2034.

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A key factor contributing to market growth is the investment in infrastructure and reverse logistics capabilities, including collection points, cleaning facilities, and transportation networks for returnable packaging, which is essential for supporting the growth of the returnable packaging market. Governments, industry associations, and private sector players are increasingly investing in infrastructure to facilitate the adoption of returnable packaging solutions.

Educating consumers about the benefits of returnable packaging and encouraging behavior change are critical for driving adoption and acceptance. Awareness campaigns, labeling initiatives, and consumer engagement programs can help raise awareness about the environmental and economic advantages of returnable packaging and encourage consumers to participate in reuse and recycling efforts.

Ongoing advancements in material science are leading to the development of new materials and composites that offer enhanced durability, flexibility, and performance characteristics for returnable packaging. The innovative materials enable the design of packaging solutions that meet specific requirements and address evolving market needs.

Report Scope

Key Takeaways from the Market Study

• Global returnable packaging market was valued at US$ 119.4 billion in 2023.
• From 2019 to 2023, the market demand expanded at a CAGR of 9.2%.
• The market in Japan is expected to expand at a CAGR of 7.5% through 2034.
• By material, the plastic segment to account for a CAGR of 6.5% through 2034.
• The absolute dollar growth of the market is projected to reach a value of US$ 118.3 million during the forecast period.
• The market in the United Kingdom is expected to expand at a CAGR of 7.6% through 2034.

"Adoption of automation and robotics in manufacturing and logistics processes is driving the demand for packaging solutions that are compatible with automated handling systems. Returnable packaging, designed for compatibility with automated processes, can improve efficiency, reduce labor costs, and minimize the risk of errors and accidents," remarks by Ismail Sutaria (Lead Consultant, Packaging and Materials).

Competitive Landscape

Prominent players in the returnable packaging market are: 

• ORBIS Corporation
• NEFAB GROUP
• PPS Midlands Limited
• Tri-pack Packaging Systems Ltd.
• Amatech Inc.
• CHEP
• Celina
• UBEECO Packaging Solutions
• RPR Inc.
• RPP Containers
• IPL Inc.
• Schoeller Allibert

Company Portfolio

• Schoeller Allibert is a leading provider of returnable packaging solutions for various industries worldwide. Their product portfolio includes plastic pallets, containers, crates, and bulk containers designed to facilitate efficient material handling, storage, and transportation. The returnable packaging solutions of the company are recognized for their durability, versatility, and environmental benefits.
• Celina is a company known for its innovative packaging solutions. While it is more recognized for its expertise in manufacturing tents, canopies, and event related products, Celina also offers reusable packaging solutions. Their range may include containers, totes, and other returnable packaging options designed to meet the needs of various industries.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global returnable packaging market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the returnable packaging market, the market is segmented on the basis of material (plastic, metal, wood), product (pallets, crates, IBCs, drums and barrels, dunnage, others), and end use (food and beverage, automotive, consumer durables, healthcare, others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

About the Packaging Division at Future Market Insights

The packaging team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

About the Author:

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power. 

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics. 

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association. 

Explore FMI's Extensive Coverage in the Packaging Domain:

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•  Sustainable Packaging Market by Material Type, Packaging Type, Distribution Channel, End Use & Region | Forecast 2023 to 2033. - Review and Request to Access the Sample PDF.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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SOURCE Future Market Insights

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